Just thinking outside the box about why Obama declared the virus a national emergency... I see in another thread here at ATS that there are/were a TON of banks whose online portals were shutdown "for maintenance" last night and into this morning.
- The dollar is crashing
- Commercial lenders, the next shoe to drop, have officially started to die. The CMBS crash will make the housing bust look like a gnat on the face of the moon in comparison. (Please see my explanation below...)
- Bank closures crested 100 on Friday
- This is the 33'rd national emergency for the nation. This is reeeeallly stretching things, but the highest Masonic degree is 33.
Could TBTB be planning to close the banks and confiscate everyone's money out of "fears of spreading the virus"? I could see them replacing it with RFID-equipped cards, which you'd only get in-exchange for taking the vaccine.
Once the markets open on Monday, they'd crash due to the confiscation - like a HUGE crash. Foreign nations would DUMP every single cent they had since they would have completely lost confidence in the dollar. The gov't waits a few days for the confiscation and exchange to be completed, meanwhile the economy and the dollar continue to drop to unheralded levels.
Say a week later, the govt comes out and announces that since the economy is so far down, we can't repay our debts and the U.S. can't come back without the aid of our N. American friends, or our worldwide friends, and that we're switching to the Amero or some other world currency. Since everyone has been shifted to a piece of plastic - this change would be instantaneous and simple to implement.
Could this be the catalyst that starts the ball rolling?
Interesting times.....
Edit - A note on the Commercial Mortgage Backed Securities (CMBS) crash and why it's so incredibly bad:
No one YET on any network has spoken about the cascade event coming with the CMBSs. Hundreds of billions (with a B) of CMBSs are out there. What they are afraid to talk about is the fact that NO ONE (without a lot of digging) knows who really owns all of the CMBSs since many, many lenders only own a little piece of the mortgage.
So, the owner of the shopping center that was full in 2002 when he built it and took out the mortgage for 80% of its THEN value is up against his balloon in his morgage. But in the past couple of years, 3/4 of his center went dark and he's been feeding it out of his pocket every month hoping for a turn-around. Well it's 7 year balloon time and it's time to re-fi.
(Commercial loans are amortized over 30 or 40 years, with a balloon due in 7-10 years. This is by-design, as in the past, the owner would just re-fi because his property would have increased in value, and the banks want their share of the pie...)
You know of course, why commercial lenders put in 5-10 year balloons. It's to SOAK the poor slob borrower with new and more fees, fees, fees and points and more points. But wait, there's more. Lots more. Who will do the re-fi since there are so many lenders in his deal? Suntrust won't since all they do is service the loan, which is typical for CMBSs. So, our shopping center owner is STUCK. He has a 75% vacancy and his cash reserves have been depleted. He no longer qualifies to re-fi ANYWHERE.
